WEBVTT - Bloomberg Daybreak: March 24, 2022 - Hour 1 (Radio) 0:00:01.800 --> 0:00:05.160 Live from the Bloomberg Interactive Broker Studios. This is Bloomberg 0:00:05.240 --> 0:00:09.160 day Break for Thursday, March two. Coming up this hour, 0:00:09.280 --> 0:00:12.480 President Blyden meets with Allies and Brussels to discuss ramping 0:00:12.520 --> 0:00:15.280 up pressure on Russia. The US and EU closed in 0:00:15.320 --> 0:00:18.200 on a deal to slash Europe's dependency on Russian energy, 0:00:18.360 --> 0:00:21.960 and Supreme Court Nominekatanshi Brown Jackson fends off a barrage 0:00:21.960 --> 0:00:25.880 of attacks that are confirmation hearings. State Comptroller Monopoly says 0:00:25.920 --> 0:00:29.680 New York will fully divest all Russian holdings. Plus tributes continue. 0:00:29.720 --> 0:00:33.040 Performer Secretary of State metal In Albright. I'm Michael barn More, 0:00:33.600 --> 0:00:36.280 I'm John Stashtward Sports New York City is dropping the 0:00:36.360 --> 0:00:39.760 vaccine mandate that prevented Carrie Irving from playing home games. 0:00:39.760 --> 0:00:42.360 The Nets lost in Memphis, the nixt one in charlom 0:00:44.080 --> 0:00:47.840 That's all straight ahead on Bloomberg day Break on Bloomberg 0:00:47.920 --> 0:00:53.000 Elementary on New York, Bloomberg one, Washington, d C, Bloomberg one, 0:00:53.040 --> 0:00:57.440 O six one, Boston, Bloomberg nine sixties, San Francisco, Sirius 0:00:57.640 --> 0:01:00.280 x M one nineteen and around the world Old on 0:01:00.400 --> 0:01:03.600 Bloomberg Radio dot Com and via the Bloomberg Business. A 0:01:07.800 --> 0:01:10.600 good morning. I'm John Tucker, I'm Nathan Hagar. Futures are 0:01:10.600 --> 0:01:12.760 climbing this morning. We're coming up to five oh one 0:01:12.760 --> 0:01:14.800 on Wall Street, and we checked the markets every fifteen 0:01:14.800 --> 0:01:17.480 minutes during the trading day on Bloomberg. Right now, SMP 0:01:17.600 --> 0:01:19.960 futures are up twenty seven points down, futures up a 0:01:20.040 --> 0:01:22.920 hundred sixty one. Nasdaq futures on the rise by a 0:01:23.000 --> 0:01:25.880 hundred nine points. Germany's decks of two tenths percent, the 0:01:25.920 --> 0:01:28.240 cat in Paris is highed by four tenths of one percent. 0:01:28.480 --> 0:01:30.880 To take your treasury is down sixteen thirty seconds. The 0:01:30.920 --> 0:01:33.720 yield two point three yield on the two year two 0:01:33.760 --> 0:01:36.600 point one three percent. Nimex screwed is up four tenths percent, 0:01:36.720 --> 0:01:39.080 or forty one cents at a hundred fifteen dollars thirty 0:01:39.080 --> 0:01:41.760 five cents of barrel comics golds up two tenths per 0:01:41.760 --> 0:01:44.800 cent or three dollars eighty cents at ninety six forty, 0:01:44.800 --> 0:01:47.520 announced John Nathan. We begin with the war as it 0:01:47.600 --> 0:01:50.760 reaches the one month mark. President Biden beach with Allies 0:01:50.800 --> 0:01:54.040 and Brussels today to discuss ramping up pressure on Vladimir 0:01:54.080 --> 0:01:57.680 Putin to withdraw forces from Ukraine. New sanctions among the 0:01:57.680 --> 0:02:00.720 options on the table we get to tail from Bloomberg's 0:02:00.720 --> 0:02:04.000 investors along with a show of solidarity. The US wants 0:02:04.000 --> 0:02:07.800 some even stiffer penalties placed on Russia, and National Security 0:02:07.800 --> 0:02:11.920 Advisor Jake Sullivan says enforcement is very important to agree 0:02:12.200 --> 0:02:17.720 on an initiative to coordinate on sanctions enforcement so that 0:02:18.080 --> 0:02:21.079 Russian efforts to evade the sanctions, or other country's effort 0:02:21.120 --> 0:02:24.160 to help Russia evade the sanctions can be dealt with 0:02:24.200 --> 0:02:27.320 effectively and in a coordinated fashion. Sullivan says, as well, 0:02:27.480 --> 0:02:30.400 China will be a major concern. NATO G seven and 0:02:30.440 --> 0:02:33.880 the EU meetings today in San Francisco. I'm at Baxter 0:02:34.000 --> 0:02:36.400 Bloomberg daybreak. All right, ed, thank you. The U S 0:02:36.440 --> 0:02:38.600 and the European Union are close to a deal to 0:02:38.680 --> 0:02:41.760 slash Europe's dependency on Russian energy. Let's go live to 0:02:41.800 --> 0:02:43.919 London for the very latest on that with Bloomberg's U 0:02:43.960 --> 0:02:46.600 and pots. Good morning you, and good morning Nathan and John. 0:02:46.680 --> 0:02:49.120 It's the missing parts of the jigsaw house of its 0:02:49.200 --> 0:02:52.280 use funds flowing to Moscow from oil and gas sales. 0:02:52.560 --> 0:02:55.400 Bloomberg understands the deal with the European Union when inshore 0:02:55.480 --> 0:02:58.920 supplies of American natural gas and hydrogen get to Europe, 0:02:59.080 --> 0:03:01.960 allowing the region to move away from dependence on Russia. 0:03:02.240 --> 0:03:05.760 President Biden's National Security advises Jack Sullivan says an announcement 0:03:05.840 --> 0:03:08.880 on the agreements could come as soon as Friday. Live 0:03:08.960 --> 0:03:11.840 in London, Immune pots day break, Thanks you, and Russia's 0:03:11.880 --> 0:03:14.760 stock market is open for the first time in nearly 0:03:14.800 --> 0:03:18.040 a month. The country's benchmark index rose as much as 0:03:18.080 --> 0:03:21.960 twelve percent after Moscow stepped in with support measures. The 0:03:22.080 --> 0:03:24.320 government's allowing just two thirds of the stocks on the 0:03:24.360 --> 0:03:27.000 exchange to trade, and that's just for a short and 0:03:27.000 --> 0:03:29.920 four hour session. Russia has also banned short selling and 0:03:29.960 --> 0:03:33.560 restricted foreigners from exiting local equities. That's on top of 0:03:33.560 --> 0:03:35.880 a pledge to prop up the stock market with up 0:03:35.880 --> 0:03:39.119 to ten billion dollars. My energy markets remain in focus, John, 0:03:39.120 --> 0:03:41.880 as the war in Ukraine sparks volatility, and a couple 0:03:41.880 --> 0:03:44.640 of Wall Street titans are now speaking out on US 0:03:44.840 --> 0:03:48.480 energy policy. We get the details from Bloomberg's Lisa ma Tale. 0:03:48.640 --> 0:03:52.280 Sources say JP Morgan Cha CEO Jamie Diamond is telling 0:03:52.320 --> 0:03:55.360 President Biden he needs a martial plan for developing more 0:03:55.440 --> 0:03:58.320 domestic natural gas. That was at a White House meeting 0:03:58.320 --> 0:04:01.320 on Monday. According to source Is, Diamond urged the White 0:04:01.320 --> 0:04:03.920 House to reduce the time needed to obtain permits for 0:04:03.960 --> 0:04:07.920 renewable energy projects such as wind farms. Diamond also spoke 0:04:07.920 --> 0:04:10.920 about the need for more short term investment in oil 0:04:10.960 --> 0:04:14.760 and gas despite longer term climate goals. At the same time, 0:04:14.800 --> 0:04:18.320 Black Rock CEO Larry Fink says the invasion of Ukraine 0:04:18.440 --> 0:04:20.960 has the potential to speed up the global shift to 0:04:21.120 --> 0:04:23.840 green energy. He says it could also do the same 0:04:23.880 --> 0:04:27.120 thing for digital currencies. That's from Fink's annual letter to 0:04:27.279 --> 0:04:31.640 shareholders in New York. I'm Lisa Matteo Bloomberg Daybreak, Eice Lisa. 0:04:31.800 --> 0:04:34.720 The White House also working on its budget plans right now. 0:04:34.880 --> 0:04:37.840 Bloomberg News has learned President Biden's plans to request more 0:04:37.880 --> 0:04:43.080 than eight billion dollars in national security spending, including seven 0:04:43.320 --> 0:04:46.240 dred seventy three billion for the Pentagon, in the federal 0:04:46.279 --> 0:04:48.839 budget He's going to send a Congress on Monday. That's 0:04:48.839 --> 0:04:51.920 an increase of thirty one billion, or four percent, from 0:04:51.960 --> 0:04:55.280 approved spending for the current fiscal year. Another major story 0:04:55.320 --> 0:04:57.640 we continue to follow. John brings us back to Capitol Hill, 0:04:57.680 --> 0:05:01.840 where Supreme Court confirmation hearings will conclude for Judge Kanji 0:05:01.920 --> 0:05:05.640 Brown Jackson. Judge fended off an orchestrated verage of Republican 0:05:05.640 --> 0:05:08.239 attacks on her record as things got tense among members 0:05:08.279 --> 0:05:12.159 of the committee. Amy Morris has details from our Bloomberg newsroom. 0:05:12.200 --> 0:05:15.920 In Washington, Republican Senator Lindsey Graham voted to confirm Jackson 0:05:16.000 --> 0:05:18.200 less than a year ago, but had a sharp exchange 0:05:18.200 --> 0:05:21.240 with her over sentencing and child pornography cases. I think 0:05:21.279 --> 0:05:22.920 the best way you deter a crime when it comes 0:05:22.960 --> 0:05:25.800 to child pornography is you lure the bloom on anybody 0:05:25.800 --> 0:05:28.520 who goes on the Internet and pulls out these images 0:05:28.760 --> 0:05:32.760 for their pleasure. Senator, every person in all of these 0:05:33.360 --> 0:05:37.040 UH charts and documents I sent to jail. Committee chair 0:05:37.120 --> 0:05:40.360 Take Durbin accused Senator Ted Cruz of not allowing Jackson 0:05:40.480 --> 0:05:44.000 to answer the question. Chairman Durbin, I've never seen the 0:05:44.080 --> 0:05:47.120 chairman refused to allow a witness to answer a question. 0:05:47.720 --> 0:05:49.279 You can bang it as loud as you want. I 0:05:49.279 --> 0:05:50.880 can just tell you at some point you have to 0:05:50.920 --> 0:05:53.920 follow the rules and emotional Senator Cory Booker defended Jackson, 0:05:54.000 --> 0:05:57.200 saying the GOP allegations are without merite. You have earned 0:05:57.240 --> 0:06:01.160 this spot. You are worthy, You are a great American. 0:06:01.360 --> 0:06:04.480 Jackson's nomination will likely end up in a party line deadlock, 0:06:04.560 --> 0:06:07.160 but that's not likely to stop Democrats from confirming her 0:06:07.200 --> 0:06:10.159 as the first black woman to the Supreme Court in Washington. 0:06:10.279 --> 0:06:13.120 I'm anymore as Bloomberg Daybreak, Thanks Sammy. Turning to the 0:06:13.160 --> 0:06:16.640 economy now, the calls for a fifty point rough fifty 0:06:16.920 --> 0:06:19.320 basis point rate high at the next to FED meeting 0:06:19.360 --> 0:06:22.480 and growing louder markets pricing in a rate increase at 0:06:22.560 --> 0:06:25.400 every Center Bank meeting this year. We caught up with 0:06:25.440 --> 0:06:29.839 San Francisco FED President Mary Daily. I will absolutely um 0:06:29.839 --> 0:06:33.240 confirm what you know Jay Chair Powell's confirmed for himself, 0:06:33.279 --> 0:06:36.080 which is that I have everything on the table right now. 0:06:36.200 --> 0:06:38.080 If we need to do fifty fifties, what we'll do. 0:06:38.120 --> 0:06:40.240 If we need to do twenty five and balance sheet, 0:06:40.440 --> 0:06:42.560 that's what we'll do, as the data will help us 0:06:42.600 --> 0:06:46.839 determine how much is necessary. San Francisco FED President Mary 0:06:46.920 --> 0:06:49.400 Daily making the comments and in the interview with Bloomberg, 0:06:49.480 --> 0:06:52.280 Mike McKee catch more of that interview coming up later 0:06:52.320 --> 0:06:54.440 this hour, and John, we also have news this morning 0:06:54.440 --> 0:06:57.760 on Global Train. The US is set to reinstate exemptions 0:06:57.760 --> 0:07:00.800 on some Chinese goods hit by Trump arrett pariffs. The 0:07:00.839 --> 0:07:03.640 exclusions will apply to more than three hundred fifty manufacturing 0:07:03.640 --> 0:07:06.960 components and consumer products, ranging from TV screen parts to 0:07:07.080 --> 0:07:11.200 backpacks and bicycles. The Trump administration had originally granted more 0:07:11.200 --> 0:07:14.560 than twenty two hundred tariff waivers, but those expired. In 0:07:15.760 --> 0:07:18.040 local headlines in the check of Sports. Next to this 0:07:18.880 --> 0:07:25.560 is Bloomberg. Thanks Nathan Trio, settled of Wall Street, and 0:07:25.720 --> 0:07:28.000 time to bring in Michael Barr for more on what 0:07:28.120 --> 0:07:31.400 else is going on to New York hands around the world, John, 0:07:31.440 --> 0:07:34.120 thank you very much, sir. New York State Controller Thomas 0:07:34.120 --> 0:07:38.480 Dinnopoly says New York will fully divest all Russian holdings. 0:07:38.840 --> 0:07:42.520 Monopoly spoke with Bloomberg's and Ali Massak when the war 0:07:42.600 --> 0:07:44.360 broke out. We said we were going to freeze any 0:07:44.480 --> 0:07:48.320 new investments, and we were making an assessment of what 0:07:48.360 --> 0:07:50.280 we considered to be the risk of the portfolio if 0:07:50.280 --> 0:07:54.480 we continued to be invested. State Controller Donopoly says it's 0:07:54.560 --> 0:07:57.720 largely in the public equity portfolio a little bit in 0:07:57.840 --> 0:08:03.400 fixed income quantified at about one hundred and ten million dollars. 0:08:03.800 --> 0:08:07.440 Chinese State media says the search areas being expanded for 0:08:07.480 --> 0:08:10.600 the second black box from a China Eastern passenger plane 0:08:10.880 --> 0:08:13.600 that crashed in southern China with one thirty two people 0:08:13.600 --> 0:08:16.280 on board earlier this week. One of the black boxes 0:08:16.400 --> 0:08:20.880 was found yesterday. Secretary of Health and Human Services Zavier 0:08:20.960 --> 0:08:26.120 Bassa warns that Congress and funds to fight COVID have 0:08:26.280 --> 0:08:30.679 already run out. The fund Congress established to reimburse doctors 0:08:30.680 --> 0:08:34.839 and other medical providers for COVID care for Americans, in particular, 0:08:34.920 --> 0:08:38.640 the uninsured, is no longer accepting new claims for pro 0:08:38.920 --> 0:08:43.599 from providers for testing or for treatment services. Secretary of 0:08:43.640 --> 0:08:46.480 Basrah at the White House COVID nineteen Response Team press 0:08:46.520 --> 0:08:50.040 conference says if Congress does not approve more COVID funding, 0:08:50.080 --> 0:08:54.400 COVID help for vaccines, pills, and other treatment will vanish. 0:08:54.880 --> 0:08:58.400 US Secretary of State Anthony Blinken slammed the Taliban for 0:08:58.640 --> 0:09:01.520 ditching gets commitment to real open high schools two girls 0:09:01.559 --> 0:09:04.480 at the last minute. A sudden reversal by the Taliban 0:09:04.600 --> 0:09:08.000 was met with sharp criticism from the United Nations, while b. 0:09:08.040 --> 0:09:10.920 Lincoln said it would profoundly harm the group's ability to 0:09:10.960 --> 0:09:14.840 build ties abroad. Madeline Albright, who rose to become the 0:09:14.840 --> 0:09:18.840 first female Secretary of State, has died of cancer. President 0:09:18.840 --> 0:09:21.760 Bill Clinton chose Albright as America stopped diplomat in n 0:09:22.920 --> 0:09:26.560 Former US Ambassador Thomas Pickering spoke about Albright. She had 0:09:26.760 --> 0:09:31.600 little love, I would say, for Russia, and that skepticism 0:09:31.640 --> 0:09:35.280 and indeed suspicion about Russia has proven to me more 0:09:35.360 --> 0:09:37.960 true than I think any of us had reason to 0:09:38.000 --> 0:09:41.160 believe when I worked for her. Former Ambassador Pickering spoke 0:09:41.200 --> 0:09:45.760 with Bloomberg's Joe matthewelve. President Barack Obama awarded Albright the 0:09:45.840 --> 0:09:49.400 Middle of Freedom. Madeleine Albright was eighty four global news 0:09:49.440 --> 0:09:52.640 twenty four hours a day on air and on Bloomberg Quittank, 0:09:52.880 --> 0:09:55.480 powered by more than twenty seven hundred journalist and analyst 0:09:55.600 --> 0:09:58.360 more than twenty countries. I'm Michael barn This is Bloomberg, 0:09:58.400 --> 0:10:04.320 John Michael, Thank you DA. That brings us to five 0:10:04.360 --> 0:10:06.120 ten of Wall Street. Time to out with the Little Birch. 0:10:06.200 --> 0:10:11.160 Sports update, good pornamed John Stansward Green's Brooklyn Net season 0:10:11.200 --> 0:10:13.480 has gone from not playing at all due to his 0:10:13.559 --> 0:10:16.960 decision to not get vaccinated, to playing only in road games. 0:10:16.960 --> 0:10:18.960 But now is the NBA regular season winds down, New 0:10:19.000 --> 0:10:21.880 York City is set to lift the private sector mandate 0:10:21.920 --> 0:10:24.559 for in person work and Irving will be a full 0:10:24.600 --> 0:10:27.080 time member of the team. Played last night in Memphis, 0:10:27.120 --> 0:10:30.160 scored forty three points in the net one two one 0:10:30.240 --> 0:10:33.200 twenty loss, and Tyree was asked the best jumping in 0:10:33.200 --> 0:10:36.240 in the line of jumping out, you know, looking forward 0:10:36.240 --> 0:10:39.440 hopefully that could could be something we could fix and 0:10:39.520 --> 0:10:41.280 move past. I can't wait to talk to you guys 0:10:41.360 --> 0:10:45.360 once this is you know, something's official and that's expected 0:10:45.360 --> 0:10:47.199 that a mayor added with mid day press for today 0:10:47.240 --> 0:10:50.760 at City Field. This also affects unvaccinated met and Yankee players, 0:10:50.760 --> 0:10:53.320 although still have to be vacks to play in Toronto 0:10:53.360 --> 0:10:55.360 and the Yankees have ten games there. The Knicks is 0:10:55.360 --> 0:10:58.120 one of their better games of the season one oh 0:10:58.200 --> 0:11:00.200 six win at Charlotte, did it without two stars. There's 0:11:00.240 --> 0:11:03.000 Julius Randall and Mitchell Robinson seven nicks and double figures 0:11:03.040 --> 0:11:05.760 laid by R. J. Barrett's thirty points. Devils lost in 0:11:05.800 --> 0:11:08.600 Toronto three two n C double a tournament returns tonight 0:11:08.600 --> 0:11:11.959 with double headers in San Antonio and San Francisco. That's 0:11:11.960 --> 0:11:14.520 where Duke plays Texas Tech. Will it be the end 0:11:14.920 --> 0:11:18.040 of Mike Schefski's coaching career? N I T quarterfinal wins 0:11:18.040 --> 0:11:21.439 for Texas A and M and Washington State Ron Harper Jr. 0:11:21.520 --> 0:11:24.520 Leaving Rutgers turning pro for a while. Yesterday I looked 0:11:24.520 --> 0:11:27.040 like the Jets might be acquiring star wide out Tyree 0:11:27.120 --> 0:11:29.839 Hill from Kansas City. The chiefs agreed to terms of 0:11:29.960 --> 0:11:32.640 deals with the Jets and Dolphins and then let Hill 0:11:32.679 --> 0:11:35.640 decide where he wanted to go. He chose Miami and 0:11:35.640 --> 0:11:38.800 he's got a four year, hundred twenty million dollar contract 0:11:38.880 --> 0:11:42.240 with them. John stash Atward, Bloomberg Sports, John, John, thanks 0:11:42.360 --> 0:11:44.440 very much. Add ahead of the cashow up on the 0:11:44.480 --> 0:11:47.319 wall Street Town futures right now up one hundred sixty 0:11:47.320 --> 0:11:50.280 five points. That's a rise of half a percent. SMP 0:11:50.440 --> 0:11:53.280 EMNI futures twenty eight points higher, up six tenths of 0:11:53.360 --> 0:11:55.960 a percent. Of the NaNs next futures up one hundred 0:11:56.040 --> 0:11:59.000 eight points, a rise of three quarters of a percent. 0:11:59.520 --> 0:12:07.120 You are listening the Bloomberg Daybreak and just ahead our 0:12:07.280 --> 0:12:11.440 Anne Marie Hordern is traveling with President Biden as he's 0:12:11.480 --> 0:12:15.320 set to address at a meeting of NATO ministers. Will 0:12:15.320 --> 0:12:22.640 bring that to you live. You're listening to Bloomberg Daybreak, Markets, 0:12:22.720 --> 0:12:25.800 headlines and breaking news twenty four hours a day at 0:12:25.840 --> 0:12:29.239 Bloomberg dot Com, the Bloomberg Business at and at Bloomberg 0:12:29.280 --> 0:12:38.920 Quick Tape. He's a Bloomberg Business Flash. Nathan Hager stocks 0:12:38.920 --> 0:12:41.840 are taking higher while treasuries extend their slide. His investors 0:12:41.840 --> 0:12:44.120 way the risks of rising inflation and the impact of 0:12:44.160 --> 0:12:46.400 the war in Ukraine. We checked the markets every fifteen 0:12:46.400 --> 0:12:48.440 minutes during the trading day on Bloomberg Right now, S 0:12:48.440 --> 0:12:50.840 and P futures are up twenty eight points down futures 0:12:50.880 --> 0:12:53.200 up a hundred sixty three. Nastack futures are higher by 0:12:53.200 --> 0:12:55.880 a hundred fourteen points. The ten your Treasury is down 0:12:55.920 --> 0:12:59.199 eighteen thirty seconds. The yield two point three yield on 0:12:59.240 --> 0:13:01.839 the two year two point one four percent. Nime X 0:13:01.840 --> 0:13:04.080 screwed is up two tenths percent of seventeen cents at 0:13:04.080 --> 0:13:06.920 a hundred fifteen dollars. Fifteen cents of barrel comics gold 0:13:06.960 --> 0:13:08.720 is up a tenth percent or at dollar seventy at 0:13:08.760 --> 0:13:12.079 nine announced the euro is at one point zero nine 0:13:12.080 --> 0:13:14.719 eight six against the dollar, the pound one s one, 0:13:15.000 --> 0:13:17.439 and the end is at one point six four. That's 0:13:17.440 --> 0:13:19.800 a Bloomberg business flash. And now here's Michael Barr. What's 0:13:19.800 --> 0:13:21.920 more on what's going on around the world. Good morning, Michael, 0:13:22.080 --> 0:13:26.160 Good morning Nathan. Ukraine President Voladimir Zelenski called on people 0:13:26.200 --> 0:13:29.439 worldwide to gather in public to show support, whereas in 0:13:29.520 --> 0:13:32.640 battled country as he prepares to address US President Joe 0:13:32.679 --> 0:13:36.920 Biden and other NATO leaders gathered in Brussels. New York 0:13:37.000 --> 0:13:40.920 City Mayor Eric Adams will announce today that he's exempting 0:13:40.960 --> 0:13:44.880 athletes and performers from the city's vaccine mandate for private workers. 0:13:45.080 --> 0:13:47.559 The move will allow Brooklyn net star Kyrie Irving to 0:13:47.600 --> 0:13:50.880 play in home games NBA games. The Nats lost the 0:13:50.920 --> 0:13:53.280 Knicks and Celtics won in the NHL The Devil's Lost. 0:13:53.480 --> 0:13:55.840 Global News twenty four hours a day on air and 0:13:56.000 --> 0:13:59.280 on Bloomberg Quicktake, powered by more than twenty seven under 0:13:59.360 --> 0:14:01.920 journalist and now honest to more than twenty countries. I'm 0:14:01.960 --> 0:14:04.839 Michael bar. This is Bloomberg jo Michael. Thank you at 0:14:04.880 --> 0:14:08.160 this moment, President Biden meeting with allies and Brussels discussing 0:14:08.360 --> 0:14:12.800 ramping up pressure on Russia. Let's head to Brussels right now, 0:14:12.880 --> 0:14:17.160 NATO headquarters and Bloomberg's and Marie Hordern, who is traveling 0:14:17.280 --> 0:14:20.440 with President Biden. Amory. We're seeing the images from the 0:14:20.520 --> 0:14:24.680 NATO headquarters right now. They're glad handing the NATO ministers 0:14:24.880 --> 0:14:28.560 and heads of state. President Biden just sitting down at 0:14:28.560 --> 0:14:32.160 the large table there. This is more than just a 0:14:32.160 --> 0:14:36.840 show of unity or is it? Oh no, this is 0:14:36.880 --> 0:14:39.160 an extraordinary meeting and this is definitely more than just 0:14:39.280 --> 0:14:41.200 a show of unity. And it's back to back to 0:14:41.320 --> 0:14:45.040 back stomach today NATO Headquarters of presidents to begin and 0:14:45.080 --> 0:14:47.280 then of course there'll be a G seven meeting, and 0:14:47.280 --> 0:14:49.520 then he'll head over to the European Commission and he'll 0:14:49.520 --> 0:14:53.360 address the European Union. Uh. This is all about just 0:14:53.680 --> 0:14:56.000 on the symbolic front, of course, showing that unity, but 0:14:56.120 --> 0:14:59.120 also about what comes next. A lot of questions that 0:14:59.480 --> 0:15:02.480 s allies need to discuss in terms of how they're 0:15:02.480 --> 0:15:05.080 going to amp off the pressure on President of Ladomya Putin. 0:15:05.360 --> 0:15:07.440 We know the United States is going to do today 0:15:07.720 --> 0:15:10.680 if they are going to have more sanctions announced, more 0:15:10.680 --> 0:15:13.400 sankists than penalty against the Kremlin. Becauld be a number 0:15:13.400 --> 0:15:16.920 of tycoons, oligarchs and lawmakers at Russia's State Duma, and 0:15:16.960 --> 0:15:18.640 then there's can be a lot of discussions on how 0:15:18.680 --> 0:15:21.200 the United States can help Europe and try to loosen 0:15:21.240 --> 0:15:24.320 their dependency on Russian oil and gaps, because that is 0:15:24.320 --> 0:15:28.520 still one area of Russia's economy that is still bringing 0:15:28.520 --> 0:15:32.640 in millions of dollars a day or leads for President Putin, 0:15:33.280 --> 0:15:37.080 and there will be a visitor of presumably from a 0:15:37.720 --> 0:15:44.160 video hook up at some point today from Ukraine's leader, yes, 0:15:44.280 --> 0:15:46.720 president of a little bare Lensky. He will be joining 0:15:46.760 --> 0:15:50.160 the Native Summit of virtually he's been doing this almost 0:15:50.160 --> 0:15:53.280 He's been making a world tour and his virtual visits 0:15:53.360 --> 0:15:57.320 really imploring global leaders and even citizens in the world 0:15:57.680 --> 0:16:01.640 to stand as Ukraine. Just last night in a video message, 0:16:01.640 --> 0:16:03.720 and he does them almost every evening, but last night 0:16:03.760 --> 0:16:07.680 he's spoken English, and he told individuals around the world 0:16:07.720 --> 0:16:12.000 that tomorrow, that's today March marked one month of the invasion, 0:16:12.280 --> 0:16:16.080 to go to your downtowns, go to your squares and protests, 0:16:16.080 --> 0:16:19.560 bring Ukrainian flats and show solidarity with us today. His 0:16:19.720 --> 0:16:22.760 messages is going to be tough on leaders. He wants 0:16:22.800 --> 0:16:24.920 them to do more more offense if you have more 0:16:24.960 --> 0:16:28.160 sanctions to close any loopholes the state as state, countries, 0:16:28.280 --> 0:16:31.600 countries or companies they are doing businesses Russia. And I 0:16:31.640 --> 0:16:34.160 believe he said something like these summits, they're going to 0:16:34.200 --> 0:16:36.760 show who his real friends are when it comes to 0:16:36.920 --> 0:16:40.800 energy security. Is everybody on the same page there in Europe? 0:16:43.240 --> 0:16:44.880 This is a tough one and this is gonna be 0:16:44.880 --> 0:16:48.200 where you're gonna see the most at tension because Europe 0:16:48.240 --> 0:16:51.160 is still reliant on energy, especially the likes of Germany. 0:16:51.440 --> 0:16:54.960 Within fifty percent of German's natural gas, how they like 0:16:55.120 --> 0:16:59.000 their homes, how they heat their homes comes from Russia. 0:16:59.560 --> 0:17:02.960 And you just can't turn off the tax that quickly 0:17:03.360 --> 0:17:05.480 if there's just not enough to supply in the world. 0:17:05.520 --> 0:17:08.480 And also Germany doesn't have the infrastructure to this. So 0:17:08.640 --> 0:17:10.480 I don't think you're going to see an immense amount 0:17:10.480 --> 0:17:13.000 of pressures in the United States on Germany because they 0:17:13.119 --> 0:17:15.840 do know what kind of situation they are in. But 0:17:15.920 --> 0:17:19.480 what we have seen is very telling. The German government. 0:17:19.640 --> 0:17:23.080 Robert Habet, the German Economy Minister, he's been working already 0:17:23.080 --> 0:17:25.679 on alternative sources and he doesn't go how over the 0:17:25.720 --> 0:17:29.160 weekend and he can't be have this veiled a threat 0:17:29.200 --> 0:17:31.639 to driving a Putin actual was signing these deals with 0:17:31.720 --> 0:17:34.399 Cutter to make sure they can get liquefied natural gas ships. 0:17:34.680 --> 0:17:36.920 He said, we might still need rushing gas this year, 0:17:37.000 --> 0:17:39.760 but not in the future. It starts like this, so 0:17:39.920 --> 0:17:43.159 he who has ears should start to listen. So this 0:17:43.320 --> 0:17:45.719 is not going that could be done immediately, but this 0:17:45.800 --> 0:17:48.200 is something Germany and the rest of Europe are thinking 0:17:48.240 --> 0:17:52.680 about long terms. Presumably the NATO leaders there, the ministers 0:17:52.680 --> 0:17:56.920 are gaming Vladimir Putin's next move. What do they suppose 0:17:57.000 --> 0:18:01.640 that will be and how do they prepare for that? Well, 0:18:01.680 --> 0:18:03.920 there's lots of talks. And the President said different us 0:18:03.960 --> 0:18:07.240 exiting the White House leaving for this trip, about how 0:18:07.760 --> 0:18:09.919 worried how much of the threat that he chang puching 0:18:09.960 --> 0:18:12.879 the revert to chemical weapons, and the President said it 0:18:12.880 --> 0:18:15.520 was a high threat. And you've seen US officials come 0:18:15.520 --> 0:18:19.000 out publicly talk about the potential that Russia would use 0:18:19.000 --> 0:18:24.040 the false flag operation to revert to chemical weapons. Now 0:18:24.080 --> 0:18:28.720 pleasant Latimer Puchin had air cover and supported Bashar al 0:18:28.720 --> 0:18:32.000 Assad and Syria when he also used chemical weapons. We 0:18:32.040 --> 0:18:35.840 should also note President Puchin Russian government needs Numa chalk, 0:18:35.880 --> 0:18:39.480 a chemical weapon in Balndbury, United Kingdom. So this is 0:18:39.520 --> 0:18:43.760 something incredibly high on the worry list and the potential 0:18:43.800 --> 0:18:46.760 threat that leaders are going to be discussing. The big 0:18:46.880 --> 0:18:51.159 question though, is what happens next, yah Seltenberg, President Biden. 0:18:51.240 --> 0:18:54.000 We've all heard them say they'll be severe consequences, but 0:18:54.080 --> 0:18:57.119 exactly what all those consequences we do not now. And 0:18:57.240 --> 0:19:00.720 Marie thanks very much Bloomberg's and Marie Horde and reporting 0:19:00.760 --> 0:19:05.440 live there from outside NATO headquarters in Brussels, and uh 0:19:05.560 --> 0:19:09.480 Yen Stoltenberg ahead of NATO right now is speaking to 0:19:09.560 --> 0:19:11.879 the group assemble. They're the world leaders as well as 0:19:11.920 --> 0:19:16.359 the NATO ministers, including President Biden, sitting around the large 0:19:16.480 --> 0:19:21.240 round table there at the NATO headquarters. After Mr Stoltenberg speaks, 0:19:21.280 --> 0:19:25.760 he'll presumably introduce President Biden in this show of unity 0:19:25.920 --> 0:19:29.960 that goes beyond just shows. And REI told us ahead 0:19:30.000 --> 0:19:32.560 of the cash open on Wall Street, looking at futures 0:19:32.640 --> 0:19:34.760 right now, they are higher that OW futures up one 0:19:34.800 --> 0:19:37.679 hundred and fifty two points. That's up four tenths of 0:19:37.720 --> 0:19:40.800 a percent, the S and P futures twenty seven points higher, 0:19:40.800 --> 0:19:42.840 that's up six tenths of a percent, and the nastic 0:19:42.840 --> 0:19:46.040 features of one hundred and eight points. That's up three 0:19:46.119 --> 0:19:48.640 quarters of a percent this morning. As we also look 0:19:48.720 --> 0:19:52.080 to treasuries, the ten year yield right now to thirty six, 0:19:52.119 --> 0:19:55.280 that's up six basis points as we see a bit 0:19:55.280 --> 0:19:58.919 of a sell off resuming four bonds. You're listening to 0:19:59.240 --> 0:20:08.600 Boomberg day Break and Bloomberg Weather for bron carro on 0:20:08.640 --> 0:20:10.800 the fort to night occasional rain, the high temperature in 0:20:10.840 --> 0:20:13.119 the mid fifties. The rain is going to end tonight 0:20:13.440 --> 0:20:16.280 and then tomorrow mixes sunny clouds. The hot temperature topic 0:20:16.320 --> 0:20:24.480 out at around sixty degrees. Broadcasting live from the Bloomberg 0:20:24.560 --> 0:20:28.080 Interactive Broker's studio in New York, Bloomberg in Loving Freed 0:20:28.359 --> 0:20:32.640 to Washington, d C. Bloomberg to Boston, Bloomberg one oh 0:20:32.720 --> 0:20:36.240 six one to San Francisco, Bloomberg nine six to the country, 0:20:36.320 --> 0:20:39.360 Sirius XM to the one nineteen and around the globe, 0:20:39.400 --> 0:20:43.040 the Bloomberg Business app and Bloomberg Radio dot Com. This 0:20:43.359 --> 0:20:51.280 is Bloomberg Daybreak and It's five thirty on Wall Street. 0:20:51.280 --> 0:20:53.680 Good morning, I'm John Tucker. I'm Nathan Hagar. We're about 0:20:53.680 --> 0:20:55.640 four hours away from the open of US training. Let's 0:20:55.680 --> 0:20:56.960 catch you up to date on the news you need 0:20:57.000 --> 0:20:58.800 to know. At this hour, we are a month into 0:20:58.880 --> 0:21:01.679 Russia's invasion. Off you crane, and President Biden is in 0:21:01.680 --> 0:21:04.240 Brussels to meet with allies. They will discuss new plans 0:21:04.240 --> 0:21:08.000 to pressure Vladimir Putin to withdraw his forces. Bloomberg Senior 0:21:08.000 --> 0:21:12.040 reporter Mark Champion says this meeting is crucial. It is important. 0:21:12.080 --> 0:21:14.920 We've had a month of war now and he's going 0:21:14.960 --> 0:21:17.760 to be sitting down with leaders that he's been talking 0:21:17.800 --> 0:21:22.439 to biphone by video link throughout and trying to really 0:21:22.520 --> 0:21:25.840 coordinate a response. They have to think about what happens 0:21:25.920 --> 0:21:29.200 if Russia decides to escalate. They need to think about China. 0:21:29.480 --> 0:21:33.280 If China does come in and support Russia, either economically 0:21:33.520 --> 0:21:36.679 or with weapons. There's a lot to talk about. Bloomberg's 0:21:36.680 --> 0:21:39.480 Mark Champion says the US also plans to announce additional 0:21:39.520 --> 0:21:42.680 sanctions on Russian political figures and oligarchs, and at the 0:21:42.720 --> 0:21:45.040 same time, the US and EU are also close to 0:21:45.080 --> 0:21:48.600 a deal to slash Europe's dependency on Russian energy, and 0:21:48.720 --> 0:21:51.840 agreement may be announced as soon as tomorrow. Stocks in 0:21:51.920 --> 0:21:54.040 Russia are trading for the first time in nearly a month, 0:21:54.119 --> 0:21:57.480 and they're trading higher, but under heavy restrictions. The government's 0:21:57.480 --> 0:22:00.600 allowing just two thirds of equities to trade. Russia has 0:22:00.600 --> 0:22:03.960 also banned short selling and restricted foreigners from exiting local 0:22:04.000 --> 0:22:07.600 equities and turning to US politics now. Confirmation hearings conclude 0:22:07.640 --> 0:22:10.800 today for the Supreme Court nominee Katanga Brown Jackson. Yesterday 0:22:10.840 --> 0:22:15.080 saw Jackson fend off GOP attacks on several fronts, including 0:22:15.119 --> 0:22:19.840